Poor legacy assets drag down PIC unlisted investment impairments
Public Investment Corporation chair says investments ‘not entirely prudent’PIC chair David Masondo. Picture: FREDDY MAVUNDA/BUSINESS DAYThe high level of impairments...
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BIRDS OF THE SAME FEATHER! As Tycoon Ham Battles ‘Nakivubo Channel Demons’, Brother Haruna Ssentongo Cited in Shs 2.4bn Kisenyi Property Chaos
Just as Kampala is still buzzing over tycoon Hamis Kiggundu’s fierce showdown with the so-called “Nakivubo Channel demons”, his brother Haruna Ssentongo has been th...
Court of Appeal Clears Vantage Fund to Enforce $10m Loan Against Bitature’s Simba Companies
“The mere act of lending money without a physical address in Uganda does not create an obligation for the appellant as a foreign lender to register. The appellant has a...
Businessman Defends Shs 427m Loan Recovery Suit Against Stanbic Bank
Kampala, Uganda | The High Court’s Commercial Division has granted city businessman Dalaus Katongole, trading as Ngoleda Stores, permission to defend a suit filed by St...
High Court upholds Equity Bank’s $10m loan against Simbamanyo, dismisses fraud claims
Simbamanyo house which was acquired by tycoon Sudhir Ruparelia.The Commercial Division of the High Court has dismissed a high-profile legal challenge filed by Simbamanyo...
Court Orders Shoprite Uganda to Pay Shs 1.3bn in VAT Arrears
Shoprite Uganda was acquired by CarrefourKampala, Uganda | The Tax Appeals Tribunal (TAT) has ruled that Shoprite Checkers (U) Limited is liable to pay Shs 1,354,624,690...
Gulu University Officials Arrested Over Sh530 Million Financial Loss
Four officials from Gulu University, among them Accounting Officer David Obol Otori, have been arrested on the orders of the Public Accounts Committee (PAC) of Parliament...
COSASE Grills Electoral Commission Over Nalukoola By-Election Failings
Parliament’s Committee on Commissions, Statutory Authorities and State Enterprises (COSASE) has faulted the Electoral Commission for its handling of the Kawempe North b...
Legislators Raise Alarm Over Police Land Scandal
Police officers across the country could soon face displacement and potential homelessness following revelations by the Public Accounts Committee (PAC) of Parliament that...
Tororo Councillors Storm District Offices Over Shs596m Property Tax
A delegation of angry councillors from Kayoro Sub-county in Tororo District on Monday stormed the district local government offices, demanding urgent action over what the...